US Banks May Have Cleared Dozens of Payments for North Korea in $2.5 Billion Scheme

North Korean leader Kim Jong Un arrives at the Presidential Palace in Hanoi, Vietnam, on Friday, March 1, 2019. On Thursday, May 28, 2020, federal prosecutors in Washington, D.C., accused blacklisted North Korean lender FTB of using shell companies and U.S. correspondents. (Bloomberg)


Legs & Regs


Enforcement Actions

The United Kingdom’s Gambling Commission found multiple systematic deficiencies following an investigation into the Antigua-based, online gaming company, which eventually led to the company surrendering its operating license prior to the completion of the investigation.
The Federal Trade Commission entered into a stipulated order with the Atlanta, GA-based payment processing company requiring it to pay $40 million for apparently ignoring warnings that it was assisting and facilitating a client who was credit card laundering.